India’s agriculture market is set to touch ₹38 lakh crore by financial year 2030, up from ₹31 lakh crore in FY25, according to a report.
According to the Innovations in Agriculture report released by 1Lattice and the Indian Venture and Alternate Capital Association (IVCA), this growth of about 4% annually will be primarily driven by new farming techniques, technological advancements, and shifting consumer demand for food products. The Startup Maha Kumbh in Delhi recently hosted the report’s release.
The Indian agriculture market, which encompasses categories such as ground agriculture, livestock and fisheries, is experiencing a significant growth and the annual output is valued approximately at over ₹30 lakh crore.
Indian ground agriculture constitutes around 60 per cent of this market, followed by livestock at 30 per cent and fisheries at 10 per cent. Uttar Pradesh has the largest share contributing around 10 per cent to the Indian agri market, while Karnataka is the key emerging state growing at around 4 per cent per annum.
The Indian ground agriculture market is growing at around 4 per cent per annum with an output value of ₹18 lakh crore. The livestock market is growing at around 5 per cent per annum with an output value of ₹9 lakh crore with milk having the largest product category of around 70 per cent.
The fisheries market is growing at around 7 per cent per annum with an output value of ₹2 lakh crore. The fisheries market is evenly split between inland and marine fish; and Andhra Pradesh with around 40 per cent share is the largest contributing state.
The report said that key innovations across the Indian agri sector include the adoption of new generation technologies such as artificial intelligence, machine learning, and IoT-based solutions for precision farming, which are enhancing crop yields and resource efficiency.
The report also highlights the emergence of technology-driven supply chains and end-to-end logistics services, which are addressing challenges such as limited supply chain traceability and product loss. Additionally, innovations in storage and warehousing are improving the shelf life of agricultural produce, while AI-based quality assessments are ensuring better food quality and fair pricing, the report said.
Further, the report observed that the investment landscape is equally promising in Indian agriculture, with private equity and venture capital investments in agri-tech companies growing at a CAGR of 40 per cent between CY19-22. The highest value of investments was recorded in CY21, amounting to $1,080 million. Investments are primarily focused on ground agriculture, which accounts for 80 per cent of the total investments, and companies operating in the upstream stage of the value chain, it said.
The initiative taken by the Government such as the creation of the Indian Digital Ecosystem of Agriculture (IDEA) framework and the implementation of Agri Stack, are playing a crucial role in supporting the sector’s growth. These initiatives aim to provide farmers with easier access to inputs, knowledge services, and credit while also facilitating better market linkages.
Abhishek Maiti, Director of Agri & Industrials at 1Lattice, said, “India’s agriculture sector is witnessing a paradigm shift where innovation is not just an enabler but a growth catalyst. With agritech start-ups, policymakers, and investors aligning toward a common goal, the sector is poised for unprecedented growth. Our report highlights how technology-powered solutions can boost productivity, sustainability, and farmer incomes, making India a leader in global agritech.”
Further, the report observed that the investment landscape is equally promising in Indian agriculture, with private equity and venture capital investments in agri-tech companies growing at a CAGR of 40 per cent between CY19-22. The highest value of investments was recorded in CY21, amounting to $1,080 million. Investments are primarily focused on ground agriculture, which accounts for 80 per cent of the total investments, and companies operating in the upstream stage of the value chain, it said.
The initiative taken by the Government such as the creation of the Indian Digital Ecosystem of Agriculture (IDEA) framework and the implementation of Agri Stack, are playing a crucial role in supporting the sector’s growth. These initiatives aim to provide farmers with easier access to inputs, knowledge services, and credit while also facilitating better market linkages.
Abhishek Maiti, Director of Agri & Industrials at 1Lattice, said, “India’s agriculture sector is witnessing a paradigm shift where innovation is not just an enabler but a growth catalyst. With agritech start-ups, policymakers, and investors aligning toward a common goal, the sector is poised for unprecedented growth. Our report highlights how technology-powered solutions can boost productivity, sustainability, and farmer incomes, making India a leader in global agritech.”
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